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Thursday, August 23, 2012

Cirrus Logic Jumps On Analysts Note (CRUS, FWLT, STX, LANC, ZNGA)

Cirrus Logic, Inc. (NASDAQ:CRUS) shares gained 4.95%
to $41.34 after Research analysts at Barclays Capital assumed coverage on
shares of Cirrus Logic in a report released today. The firm set an “overweight”
rating on the stock. Analysts expect that Cirrus Logic will post $2.33 EPS for
the current fiscal year. The company develops analog and mixed-signal
integrated circuits (ICs) for a range of audio and energy markets.

Foster Wheeler AG (NASDAQ:FWLT) stock increased
3.57% to $21.20 after the company announced that a subsidiary of Global
Engineering and Construction Group has been awarded a contract by Petróleo
Brasileiro S.A. (Petrobras) for a world-scale grassroots gas-to-chemicals
complex in Linhares, Espirito Santo State, southeast Brazil, called Complexo
Gás-Químico UFN-IV. The company will provide basic engineering design (BED),
front-end engineering design (FEED), and technical assistance and training
during the engineering, procurement, construction (EPC) phase through to
completion of the plant performances tests.

Lancaster Colony Corp. (NASDAQ:LANC) stock increased
3.62% to $71.86 after the company reported fourth quarter net income of $25.95 million, or $0.95 per
diluted share, from net income of $29.29 million, or $1.07 per diluted share,
reported for the corresponding period last year. Net sales for the fourth
quarter increased 7% to $273.96 million from $256.03 million in the
corresponding quarter in the previous year. Analysts expected earnings per
share of $0.79 on revenues of $263.07 million for the quarter.

Zynga Inc (NASDAQ:ZNGA) shares jumped 1.84% to $3.20
after the company’s operations are getting the least praise in markets among
Internet media companies, and management’s refusal to consider a sale as growth
slows is blocking an avenue for shareholders to recoup losses. Losses in Zynga
shares increased in July when the company reported lower second-quarter profit
than analysts forecast, citing changes to Facebook’s site made it harder for
users to find its games.

Seagate Technology PLC (NASDAQ:STX) stock fell 4.41%
to $33.62 after the company said it has
reached an agreement to buy the former manufacturing plant and headquarters
building of Solyndra LLC, which was financed by a controversial government
loan. The price for the Fremont, California, building could not be determined.
Tim Gallen, who represents Jones Lang LaSalle Inc which marketed the property,
declined comment.